Your Auto Advocate - January Month in Review
December is the most active car buying month of the year. For our team at Your Auto Advocate that meant we entered the new year with a lot of momentum. Hundreds of new paying subscribers joined Your Auto Advocate in December. Then, January came around …
Nearly 500,000 fewer new cars are sold in January than in December, and even with that seasonality in the car business, Your Auto Advocate grossed the most revenue of all time in January (300% more than we averaged per month in 2020). We learned in January that Your Auto Advocate’s business is very resilient, and that even amidst lower demand for vehicle purchases we could grow our footprint.
I remember one of the first phone calls I received after we raised our initial round of capital from angel and venture capital investors. It was from a CEO in the automotive industry who I consider a mentor and advisor. He had founded and sold multiple companies in his career, as well as acquired many in his corporate roles. He said to me, “Zach, it’s clear you can sell people on your vision, now you need to stay unequivocally focused on generating revenue and finding unit economics.”
I’m proud to say that this January we did that. Even amidst the seasonality of our market we grew revenues and proved that our car shopper subscription product can convert at an efficient rate (greater than 3% of our members have purchased our premium offering).
What does February have in store for Your Auto Advocate? Success for our team looks like:
- Continue to increase gross revenue
- Continue to improve our product so that we convert members at a higher level
- Continue to increase the number of website visitors we receive
As we strive to attain our goals this month my intention is to continue to foster a culture and community that feels empowering. Both the Your Auto Advocate team, and the community of car buyers using our product are growing. It’s imperative that those who are connected to Your Auto Advocate buy into our principles:
Empathy - Seek first to understand our members, our co-workers and ourselves.
Advocacy - Serve and work on behalf of our members and our team.
Transparency - Act with clarity and visibility.
Integrity - Operate within a consistent framework of shared principles.
Balance - Pay equal attention to what we like to do, what we want to do and what we need to do.
My mentor’s advice — to stay focused on generating revenue and unit economics — is not lost on me, however January proved that the product we are building can sell itself and help people. I feel a renewed sense of purpose to foster the right culture and community (while not losing sight of our business fundamentals)!
January was transformative for Your Auto Advocate as we got much closer to our Q1 goal of 100,000 users and $100,000 in monthly revenue.
How can you help?
If you are interested in participating in Your Auto Advocate’s Seed round, please don't hesitate to get in touch: zach (at) yourautoadvocate.com